Annual Checklist for Estate Planning

Annual Checklist for Estate Planning

By Melinda Gustafson Gervasi

October 27, 2023

Image by M. Gustafson Gervasi, 2023

Monday, the 30th of October, ushers in National Checklist Day.  Yes, it is a real thing according to the internet.  It's origins are tied to the aviation industry, specifically pilots and flight attendants created safety checklists to make the new era of aviation safer.  Defined, a checklist is a list of requirements, things to be done, points to be considered and or a reminder.    

Within the area of estate planning and probate, here are 7 items to include on your annual checklist to ensure your plan is up-to-date and accessible:

1. Copies of your power of attorney for health care are on file with your primary care doctor, any specialist you use, and your hospital of record as well as with the agent(s) you named to speak for you if you are too sick;
2. Copies of your power of attorney for finances are with the agent(s) you have named to handle your financial matters if you are alive but too sick to manage your own affairs;
3. Your original will is in a safe and secure location that is accessible to your Personal Representative (Executor in other states) -- for residents of Dane County, Wisconsin, an original will can be filed for safekeeping with the probate court;
4. You have a complete list of assets that have named beneficiaries;
5. A copy of the deed to your home or other real estate that you own;
6. Names and contact information of professionals who assist you in your life -- CPA, veterinarian, insurance agent, financial planner, attorney; and
7. List of organizations that should be contacted in the event of your death -- religious organization, professional associations, civic clubs, neighborhood groups.

This list mentions 7 items to include on your checklist.  It is by no means a full and complete list, but enough to prime the pump.  Remember that a blog is not legal advice, it is meant to spark thought and discussion.  Please consult an attorney licensed in your home state for counsel specific to your situation.  Thank you for reading, be well, and click FOLLOW above to enter your email and receive updates on future posts.